The Dynamics of a Capitalist Economy
A Multisectoral Analysis
Polity Press
Published on 24. September 1987
Book
Hardback
384 pages
978-0-7456-0192-2 (ISBN)
Description
In this new work, the authors analyse the ways in which modern economies function and evolve dynamically. They emphasize the morphology of change rather than equilibrium and thus develop a distinctive and highly original approach. They analyse varieties of disequilibrium behaviour in capitalist systems under the influence of persistent structural evolution. Potential theory and generalized coordinates are employed in a multisectoral analysis of prices and outputs. Among the topics discussed are growth, stability, bifurcation, control theory and chaotic behaviour. Insights are drawn from the work of Marx, Schumpeter, Walras, von Neumann, Sraffa, Robinson, Kalecki and Keynes. Part II provides a mathematical treatment of some of the issues raised by this approach. The analysis is broadened to include joint production and capital theory as well as problems concerning the choice of techniques. The mathematical details are derived and explained in an appendix. This book will be of interest to professional economists, graduates and third-year undergraduates in economics.
More details
Series
Language
English
Place of publication
Oxford
United Kingdom
Target group
College/higher education
Professional and scholarly
Illustrations
Illustrations
Dimensions
Height: 220 mm
Width: 140 mm
Weight
700 gr
ISBN-13
978-0-7456-0192-2 (9780745601922)
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Schweitzer Classification
Persons
Content
Part 1 Basic concepts; dual linear theory of output and value; dual linear dynamics; the fluctuating evolution of capitalism, Richard M. Goodwin. Part 2 Mathematical descriptions of the multisectoral model; closed multisectoral models; prices and the process model, Lionelli F. Punzo.